Ann: AJ Lucas completes placement and investor presentation, page-13

I have just bought back some of the shares I sold a week ago.
Our government here in GB has got itself into a right mess with its recent Quasi-Budget and I fear that it is now in a weaker position to take on the noisy opponents of fracking. Even so fracking provides so obviously our best chance of solving our energy crisis that this opposition must be overcome.
Kerogen owns not only 65% of AJL's share capital (or rather a little less after the current share issue) but also large amounts of debt on which AJL is paying up to 18% p.a. in interest. So small shareholders are entirely at Kerogen's mercy. This interest has to be paid, of course, out of the profits on our Australian business.
These debts mature next year and I hope that they can be re-arranged on better terms for AJL.